| Topic : The Business Plan - Finding and Evaluating an Idea |
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Startup World |
Business Development and Outsourcing |
Business Leads |
2 more ...
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Activity:
Question posted: 02 17 2009 17:07:43 +0000,
4 answers, 836 views, last activity
07 06 2010 20:18:08 +0000
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Kindly share the strategies, steps, plan to start teh small scale business
Mr. Rahman has covered almost all the necessary points, i would like to add few more points, how much market you are going to capture in first year (this is bacically financial projection)
why the customer should buy your product/ what problem you are solving to the customer, how you are getting differentiated with the competitor ( these are all value proposition )
what is ur business/ revenue model.. what are all the risk factors and how you are going to cover it
before writing the plan, think in common man point of view, why should he/she invest, what will be the return, when u start to see the returns
there are still many more... i cant put every thing here (if u are interested i can share with u in offline)
Regards,
Karthick
karthykb@gmail.com
Mr. Rehman has beautifully covered it all, yet I would like to add the following:
Achieving your goals is this simple.
Five steps:
- Goal
- Plan
- Break it down
- Calendar/time block
- Accountability
Plan your work, then work your plan. Good luck!
Mr. Rahman has covered all the points beautifully...not only for Aarti its helpful,,, its also helpful for people like me who wants to start small business...Thanks for Aarti posting such question and Mr. Rahman for answering...
Follow the steps and at the end you will have a primary business plan
- Define your key vision (what is your business goal)
- Define keys to success (Product Quality, Pricing, Manpower)
- Define your business stucture (Partnership, Pvt. Ltd etc)
- Define Products (what you going to produce)
- Define your market segementation
- Do Market Analysis (Define Marketing Problems and Opportunities)
- Do Competitor Analysis
- Plan your marketing strategy including pricing
- Do financial plans (based on the output)
- Set priorities and Define Milestones (at what date what should be achieved)
- work out your projected Profit & Loss, Balance sheet and cash flow etc
You are almost done.. Now discuss your plan with the industry professionals and identify the gaps, negatives etc.
Re workout the plan. Execute and try to stick to the plan as much as possible. Review every now and then that you are on track.
Also you can use the softwares like "Business Plan Pro" softwares which will be a very handy solution.
Feel free to ask any advice..:-)
All the best.
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